Question 1 1. In ethical terms, a cost-benefit analysis is an assessment of the negative and positive effects of alternative actions on individuals. Answer Tru e. Fal se 2 points Question 2 1. Holly, a lawyer on the staff of International Group, applies the utilitarian theory of ethics in business contexts. Utilitarianism focuses on Answer moral values. religious beliefs. the consequences of an action. the nature of an action. 2 points Question 3 1.
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Question 1
1.
In ethical terms, a cost-benefit analysis is an assessment of the negative and positive effects of alternative actions on individuals.
Answer
True.
False
2 points
Question 2
1.
Holly, a lawyer on the staff of International Group, applies the utilitarian theory of ethics in business contexts. Utilitarianism focuses on
Answer
moral values.
religious beliefs.
the consequences of an action.
the nature of an action.
2 points
Question 3
1.
In making decisions for United Merchandising Company, Viv incorporates a social cost-benefit analysis. This is part of
Answer
duty-based ethics.
Kantian ethics.
the principle of rights.
utilitarianism.
2 points
Question 4
1.
An ethics program can clarify what a company considers to be unacceptable conduct.
Answer
True.
False
2 points
Question 5
1.
The roles that women play in some foreign countries may present some difficult ethical problems for firms doing business internationally.
Answer
True.
False
2 points
Question 6
1.
Establishing which duties take priority over others determines a firm's views on corporate social responsibility.
Answer
True.
False
2 points
Question 7
1.
Bribery of foreign government officials is both an ethical and a legal issue.
Answer
True.
False
2 points
Question 8
1.
Kit follows certain religious principles. With respect to the behavior of Kit and other adherents of her religion, its principles are most likely
Answer
absolute.
changeable.
flexible.
vague.
2 points
Question 9
1.
An action may be unethical but legal.
Answer
True.
False
2 points
Question 10
1.
As a judge, Jay applies common law rules. These rules develop from
Answer
decisions of the courts in legal disputes.
regulations issued by administrative agencies.
statutes enacted by Congress and the state legislatures.
uniform laws drafted by legal scholars.
2 points
Question 11
1.
In an action against Elin, Frank obtains a remedy. This is
Answer
an administrative agency's enforcement of its rule.
a principle of the law derived from earlier court cases.
a statute enacted by a state legislature or Congress.
the legal means to recover a right or to redress a wrong.
2 points
Question 12
1.
Net Corporation files a suit against Omega, Inc., alleging that Omega breached a contract to sell Net a computer system for $100,000. Net is
Answer
the appellant.
the appellee.
the defendant.
the plaintiff.
2 points
Question 13
1.
Hawaii enacts a state law that violates the U.S. Constitution. This law can be enforced by
Answer
no one.
the federal government only.
the state of Hawaii only.
the United States Supreme Court only.
2 points
Question 14
1.
Damages is a modern form of the traditional "remedies at law."
Answer
True.
False
2 points
Question 15
1.
The Federal Trade Commission is a government agency that issues rules, orders, and decisions. The Georgia state legislature enacts statutes. The Jackson County Board and the Peach City Council enacts ordinances. Administrative law includes
Answer
all law that affects a business's operation.
the rules, orders, and decisions of the Federal Trade Commission.
statutes enacted by the Georgia state legislature.
ordinances created by the Jackson County Board and the city county of Peach City, Georgia.
2 points
Question 16
1.
The Montana Supreme Court decides the case of National Co. v. Overseas Corp. Of nine justices, six believe the judgment should be in National's favor. Justice Peel, one of the six, writes a separate opinion. The four justices who believe the judgment should be in Overseas's favor join in a third separate opinion. The opinion joined by the four justices who favor Overseas is known as
Answer
a concurring opinion.
a dissenting opinion.
a majority opinion.
a propounding opinion.
2 points
Question 17
1.
In Abel v. Baker, a state supreme court held that a minor could cancel a contract for the sale of a car. Now a trial court in the same state is deciding Charles v. Delta, a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to
Answer
allow the minor to cancel the contract.
disregard the previous case.
order the minor to cancel the contract.
require the minor to fulfill the contract.
2 points
Question 18
1.
The Montana Supreme Court decides the case of National Co. v. Overseas Corp. Of nine justices, six believe the judgment should be in National's favor. Justice Peel, one of the six, writes a separate opinion. The four justices who believe the judgment should be in Overseas's favor join in a third separate opinion. Peel's opinis known as
Answer
a concurring opinion.
a dissenting opinion.
a majority opinion.
a propounding opinion.
2 points
Question 19
1.
Service of process is the process of obtaining information from an opposing party before trial.
Answer
True.
False
2 points
Question 20
1.
Ula wants to initiate a suit against Valley Farms by filing a complaint. The complaint should include
Answer
an explanation to refute any defense the defendant might assert.
a motion for summary judgment.
a motion to dismiss.
a statement of the facts necessary to show Ula is entitled to relief.
2 points
Question 21
1.
Cy files a suit against Digby Corporation. Digby responds that it appears from the pleadings the parties do not dispute the facts and the only question is how the law applies to those facts. Digby supports this response with witnesses' sworn statements. This is
Answer
a counterclaim.
a motion for judgment on the pleadings.
a motion for summary judgment.
a motion to dismiss.
2 points
Question 22
1.
A motion for a new trial will be granted only if the trial judge feels that it is appropriate to grant a judgment for the other side.
Answer
True.
False
2 points
Question 23
1.
Venue is the term for the subject matter of a case.
Answer
True.
False
2 points
Question 24
1.
LCD TV Company, a firm in Minnesota, advertises on the Web. A court in North Dakota would be most likely to exercise jurisdiction over LCD if the firm
Answer
conducted substantial business with North Dakota residents through its Web site.
interacted with any North Dakota resident through its Web site.
only advertised without interactivity at its Web site.
suddenly removed its ad from the Internet.
2 points
Question 25
1.
A brief includes a statement of the applicable law in a case.
Answer
True.
False
2 points
Question 26
1.
The United States Supreme Court has appellate authority over all cases decided in the state courts.
Answer
True.
False
2 points
Question 27
1.
Testimony given in court about what someone heard someone else say (hearsay) is not admissible as evidence.
Answer
True.
False
Question 1
2 out of 2 points
Net Corporation files a suit against Omega, Inc., alleging that Omega breached a contract to sell Net a computer system for $100,000. Net is
Answer
Selected Answer:
the plaintiff.
Question 2
2 out of 2 points
The Montana Supreme Court decides the case of National Co. v. Overseas Corp. Of nine justices, six believe the judgment should be in National's favor. Justice Peel, one of the six, writes a separate opinion. The four justices who believe the judgment should be in Overseas's favor join in a third separate opinion. These opinions are collected and published in volumes called
Answer
Selected Answer:
reporters.
Question 3
2 out of 2 points
Damages is a modern form of the traditional "remedies at law."
Answer
Selected Answer:
True.
Question 4
2 out of 2 points
In a suit against Kit, Leo obtains specific performance. This is
Answer
Selected Answer:
an equitable remedy only.
Question 5
2 out of 2 points
As a judge, Jay applies common law rules. These rules develop from
Answer
Selected Answer:
decisions of the courts in legal disputes.
Question 6
2 out of 2 points
The Montana Supreme Court decides the case of National Co. v. Overseas Corp. Of nine justices, six believe the judgment should be in National's favor. Justice Peel, one of the six, writes a separate opinion. The four justices who believe the judgment should be in Overseas's favor join in a third separate opinion. Peel's opinis known as
Answer
Selected Answer:
a concurring opinion.
Question 7
2 out of 2 points
Uniform laws apply in all states, including those in which the laws have not been adopted.
Answer
Selected Answer:
False
Question 8
2 out of 2 points
A reference to "28 U.S.C. Section 1332" means that a statute can be found in section 1332 of title 28 of the United States Code.
Answer
Selected Answer:
True.
Question 9
2 out of 2 points
In Abel v. Baker, a state supreme court held that a minor could cancel a contract for the sale of a car. Now a trial court in the same state is deciding Charles v. Delta, a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to
Answer
Selected Answer:
allow the minor to cancel the contract.
Question 10
2 out of 2 points
In some cases, a jury verdict will specify the amount of the damages to be paid by a losing party.
Answer
Selected Answer:
True.
Question 11
2 out of 2 points
Boyd files a suit in a federal district court against Cathy. Cathy loses the suit, appeals to the U.S. Court of Appeals for the Second Circuit, and loses again. Cathy asks the United States Supreme
Court to hear the case. The Court is
Answer
Selected Answer:
not required to hear the case.
Question 12
2 out of 2 points
Concurrent jurisdiction exists when both federal and state courts have the power to hear a particular case.
Answer
Selected Answer:
True.
Question 13
2 out of 2 points
Diners Corporation files a suit against Eateries, Inc. After Diners' attorney's presents the plaintiff's case, the attorney for Eateries can
Answer
Selected Answer:
file a motion for a directed verdict or present the defendant's case.
Question 14
2 out of 2 points
Testimony given in court about what someone heard someone else say (hearsay) is not admissible as evidence.
Answer
Selected Answer:
True.
Question 15
2 out of 2 points
Cy files a suit against Digby Corporation. Digby responds that it appears from the pleadings the parties do not dispute the facts and the only question is how the law applies to those facts. Digby supports this response with witnesses' sworn statements. This is
Answer
Selected Answer:
a motion for summary judgment.
Question 16
2 out of 2 points
All-USA Imports, Inc., disputes the use of "all-usa.com" as a domain name by All-USA Overseas Exports, Ltd., and files a suit to resolve the dispute. Service of process must be by
Answer
Selected Answer:
whatever means is reasonably calculated to do the job.
Question 17
2 out of 2 points
Diners Corporation files a suit against Eateries, Inc. The attorney for Eateries also questions Floyd (witness for the plaintiff) after the Diners Corporation's lawyers have questioned him. This is
Answer
Selected Answer:
a cross-examination.
Question 18
2 out of 2 points
Indelible Fabrics, Inc. (IFI), makes "Jean's Denim," a famous brand of clothing. Without IFI's consent, Kopy Company (KC) begins to use "jeansdenim" as part of a domain name. IFI files a suit against KC and engages in service of process. Service of process must provide
Answer
Selected Answer:
notice and an opportunity to respond.
Question 19
2 out of 2 points
Establishing which duties take priority over others determines a firm's views on corporate social responsibility.
Answer
Selected Answer:
True.
Question 20
2 out of 2 points
Dion, an accountant for Engineering Associates, Inc., attempts to apply the duty approach to ethical reasoning in conflicts that occur on the job. This approach is based on the idea that a person must
Answer
Selected Answer:
avoid unethical behavior regardless of the consequences.
Question 21
2 out of 2 points
In ethical terms, a cost-benefit analysis is an assessment of the negative and positive effects of alternative actions on individuals.
Answer
Selected Answer:
True.
Question 22
2 out of 2 points
In the interest of preserving personal freedom, the law codifies ALL ethical requirements.
Answer
Selected Answer:
False
Question 23
2 out of 2 points
Kit follows certain religious principles. With respect to the behavior of Kit and other adherents of her religion, its principles are most likely
Answer
Selected Answer:
absolute.
Question 24
2 out of 2 points
Rob, the owner of Super Stores, Inc., adheres to the "principle of rights" theory. Under this theory, a key factor in determining whether a business decision is ethical is how that decision affects
Answer
Selected Answer:
the rights of others.
Question 25
2 out of 2 points
Holly, a lawyer on the staff of International Group, applies the utilitarian theory of ethics in business contexts. Utilitarianism focuses on
Answer
Selected Answer:
the consequences of an action.
Question 26
2 out of 2 points
Global Distribution Corporation suggests that its employees apply the "categorical imperative" to ethical issues that arise at work. This requires that the employees
Answer
Selected Answer:
weigh the consequences that would follow if everyone acted the same.
Question 27
2 out of 2 points
Lia works for Media Marketing Company. Her job includes putting "spin" on the firm's successes and failures. In this context, ethics consist of
Selected Answer:
questions of rightness and wrongness.
TEST 2
QUESTION 1 2 out of 2 points
Alternative dispute resolution methods are generally less expensive and time consuming than actual litigation.
Answer
Selected Answer:
True.
Question 2
2 out of 2 points
Global Enterprises, Inc., uses the services of the Internet Corporation for Assigned Names and Numbers (ICANN). ICANN's purpose is to
Answer
Selected Answer:
oversee the distribution of domain names.
Question 3
2 out of 2 points
Faraway Sales Corporation, a U.S. firm, and Globe Transport, a Dutch firm, enter into a contract that includes an arbitration clause. This clause provides that the arbitrator
Answer
Selected Answer:
could be any mutually agreeable third party.
Question 4
2 out of 2 points
"Assisted negotiation" describes proceedings for minors and other parties who lack contractual "capacity."
Answer
Selected Answer:
False
Question 5
2 out of 2 points
Berle, a dairy farmer, and Clover Creamery, Inc., are engaged in court-annexed arbitration proceedings. The award will be binding on
Answer
Selected Answer:
neither Berle nor Clover.
Question 6
2 out of 2 points
South Carolina enacts a statute to impose a prison term, without a trial, on all street vendors who operate within the state. A court would likely hold this to be
Answer
Selected Answer:
unconstitutional under the due process clause.
Question 7
2 out of 2 points
The state of New York regulates private activities to protect or promote the public order, health, safety, and general welfare under its
Answer
Selected Answer:
police powers.
Question 8
2 out of 2 points
Review of a law on a substantive due process basis and review of a law on an equal protection basis considers some similar questions.
Answer
Selected Answer:
True.
Question 9
2 out of 2 points
Any law that distinguishes between or among individuals violates the equal protection clause.
Answer
Selected Answer:
False
Question 10
2 out of 2 points
Beachside City enacts an ordinance that bans the distribution of all printed materials on city streets. Carl opposes the city's latest "revenue-enhancing" measure and wants to protest by distributing handbills. In his suit against the city, a court would likely hold the printed-materials ban to be
Answer
Selected Answer:
unconstitutional under the First Amendment.
Question 11
2 out of 2 points
The extent of implied authority is generally broader for agents than for partners.
Answer
Selected Answer:
False
Question 12
2 out of 2 points
Jim and Kyle are partners in J&K Sales, which exports technical equipment under a three-year partnership agreement. The U.S. government declares that the equipment can no longer be
exported. J&K
Answer
Selected Answer: d.
dissolves immediately unless the partners change its business.
Question 13
2 out of 2 points
Jody owns KuppaJava Kiosks, a sole proprietorship. Jody's liability is
Answer
Selected Answer: d.
unlimited.
Question 14
2 out of 2 points
A partner may use and possess partnership property for any purpose.
Answer
Selected Answer:
False
Question 15
2 out of 2 points
Fay is admitted to Global Associates, an existing partnership. A partnership debt incurred before the date of her admission comes due. Fay is
Answer
Selected c.
Answer:
only liable for the debt up to the amount of his capital contribution.
Question 16
2 out of 2 points
Energy Unlimited, LP, is a limited partnership to which its partners, including Fink, have contributed capital. Energy's creditors include Graves Engineering, Inc. On Energy's dissolution, its assets will be distributed to pay
Answer
Selected Answer:
a.
Graves first.
Question 17
2 out of 2 points
In a limited liability partnership, a partner can be exempt from personal liability for partnership obligations.
Answer
Selected Answer: True
Question 18
2 out of 2 points
For purposes of suing or being sued, a limited liability company is a legal entity apart from its owners.
Answer
Selected Answer: True
Question 19
2 out of 2 points
A limited partner who gives a general partner advice on matters relating to the management of the partnership cannot be liable as a general partner.
Answer
Selected Answer:
False
Question 20
2 out of 2 points
Lui is considering forms of business organization for a chain of Magic Trix novelty stores. One advantage of the limited liability company form, with respect to tax options, is its
Answer
Selected Answer:
b.
flexibility.
Question 21
2 out of 2 points
CPA Accounting, LLC, is a limited liability company. If the law in CPA's state is like the law in most states, unless the members have agreed otherwise, participants in the firm's management will be considered to include
Answer
Selected Answer:
d.
all members.
Question 22
2 out of 2 points
Unlike a director, an officer is not expected to be informed on corporate matters.
Answer
Selected Answer:
False
Question 23
2 out of 2 points
A state constitution may restrict a corporation's implied powers.
Answer
Selected Answer: True
Question 24
2 out of 2 points
Eager Beaver Corporation fails to hold its organizational meeting to adopt bylaws. Under this circumstance, Eager Beaver is most likely
Answer
Selected Answer:
d.
a de facto corporation.
Question 25
2 out of 2 points
Directors are required to exercise a reasonable amount of supervision over the corporate officers.
Answer
Selected Answer: True
Question 26
2 out of 2 points
Frawsty Corporation distributes beverages in the greater Northwest. Frawsty's board of directors can delegate some of its functions to
Answer
Selected Answer:
c.
Frawsty's officers.
Question 27
2 out of 2 points
Directors are rarely compensated and cannot set their own compensation.
Answer
Selected Answer:
False
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